The New York Racing Association and Magna Entertainment Corp. again are discussing merger possibilities, two months after the NYRA board flatly rejected a bid by Frank Stronach's company to become financial partners.

Magna Entertainment Corp. chairman Frank Stronach told shareholders Tuesday he expects the company to reach consistent profitability within one to three years through continued development of the company's racetracks and new self-service betting machines he believes will become more popular than slot machines.

Magna Entertainment Corp., which owns Laurel Park and Pimlico Race Course, is considering seeking approval for a plan that would let handicappers bet on live racing from around the country using machines that have a lot of the appeal of slot machines.

Magna Entertainment Corp. and real-estate company Forest City Enterprises, Inc. will partner on a planned 80-acre development at Gulfstream Park that will include retail and entertainment facilities and a residential village that overlooks the track.

Magna Entertainment Corp. chief executive officer Jim McAlpine received a $200,000 bonus last year for his "contribution to the growth and development of MEC during fiscal year 2003," according to proxy material being circulated.

The Florida Thoroughbred Breeders' and Owners' Association, which believes the state's racing industry is at a crisis stage, has released an aggressive legislative agenda that takes aim at laws its says create an uneven playing field with other gambling entities. Still, it appears there isn't industry consensus on just how to proceed.

The board of directors of Magna Entertainment Corp. announced Wednesday that it has elected Brian Tobin as a director and vice-chairman of the MEC Board. Tobin is the chief executive officer and a director of MI Developments Inc., which is the majority shareholder of MEC.

Magna Entertainment Corp. chairman Frank Stronach wants to get things moving with his company's proposed racetrack in Romulus, Mich., but state racing commissioner Robert Geake reiterated Thursday that much remains to be accomplished before any action can be taken.

MI Developments, a publicly traded real-estate company that owns 59% of the equity in Magna Entertainment Corp., reported big losses during the fourth quarter of 2003 largely as a result of MEC's poor financial performance.

Louie Roussel III, who owned a controlling interest in Fair Grounds until 1990, is the latest to make an offer for the New Orleans track. A week after Churchill Downs Inc. bid $28.5 million for Fair Grounds, Roussel upped the offer to $30 million, according to published reports.

The president of a growing account wagering service said handle declines at major winter meets aren't good for racing, and he suggested it's time for a "fragmented industry" to move forward in the best interests of its customers, racetracks, and horsemen.

Magna Entertainment Corp. may have some explaining to do at this month's California Horse Racing Board meeting as handle for its account-wagering service, Xpressbet, suffered an 18.4% decline among California residents during the year's first two months.

Former Canadian cabinet minister and provincial premier Brian Tobin has been appointed chief executive officer of MI Developments Inc., a real estate spin-off of Magna International that holds a controlling interest in Magna Entertainment Corp.

Magna Entertainment Corp. Tuesday reported a net loss of $103.2 million for the fourth quarter of 2003, or 96 cents a share, which includes a previously announced non-cash write-down of $81.7 million on its assets.

Despite financial results that show a net loss of $105.1 million in 2003, Magna Entertainment Corp. president Jim McAlpine said the company "made significant strides" in creating a global company built around horse racing.

Magna Entertainment Corp. has established a "continuous improvement" team under the supervision of chief operating officer Don Amos that will conduct an orderly study of the company's racetrack operations.

The Baltimore Planning Commission Wednesday granted its approval to the proposed expansion of Pimlico Race Course into an "entertainment destination" facility, though plans for a hotel on the site were turned down.

Despite financial woes, the Pimlico Special (gr. I) has been scheduled for May 14, the day before the Preakness Stakes (gr. I), a Maryland Jockey Club executive told the Maryland Racing Commission Feb. 10.

The Texas Racing Commission has ruled horses with common ownership and trainers can run as separate betting interests during the Breeders' Cup World Thoroughbred Championships Oct. 30 at Lone Star Park.

Magna Entertainment Corp.'s top executive admitted the company has taken plenty of heat for recent business decisions tied to account wagering and rebate shops, but he indicated the racing conglomerate wouldn't apologize for a strategy he said is designed to benefit the industry in the long term.

After a public hearing attended by less than a dozen residents in Dixon, Calif. Thursday, Magna Entertainment Corporation was prepared to take the next major step for its proposed Dixon Downs racetrack – preparation of a draft environmental impact report.

There is plenty of sunshine in the final tally from last weekend's Sunshine Millions according to a press release issued by Magna Entertainment Corp. MEC reports the second running of the Sunshine Millions eclipsed last year's successes, both on track and in the home.

The Magna 5, a five-race wagering series with a guaranteed $500,000 minimum pool, begins Saturday at approximately 4:25 p.m. (EST). In the span of a little more than an hour, five races, tied together with one bet, will be presented at Magna Entertainment Corp. tracks.

Magna Entertainment Corp. removed another obstacle to bringing Thoroughbred racing back to the Detroit area on Tuesday when it applied to transfer its Great Lakes Downs racing license to a Delaware corporation.

Magna Entertainment Corporation announced it is offering a new national Pick 5 wager – the Magna 5 – with a guaranteed minimum pool of $500,000 at its tracks beginning Jan. 31 and continuing each Saturday through May 29.

William Biggar has resigned as president and chief executive officer of MI Developments, which is the parent company of Magna Entertainment Corp. He will be replaced by Werner Czernohorsky, formerly president of the Construction Group.

Fans who attend the races at Santa Anita Park can now have their thoughts and ideas, as well as complaints and suggestions, heard by members of the racetrack's management team thanks to a new "Fan's Feedback Forum" held every Sunday at noon in the track's East Paddock Gardens immediately following handicapping seminars.

A disgruntled professional handicapper is mobilizing fellow players to boycott all tracks owned by Magna Entertainment Corp. The action comes in response to the company's recent decision to discontinue accepting bets from account wagering providers other than the Magna-owned platform Xpressbet.com.